Global Artificial intelligence and analytics in surgery Market, By offering (Hardware, Software), Technology (Machine Learning, Deep Learning, Natural Language Processing, and Others), Application (Cardiovascular surgeries, Neurosurgery, Orthopaedics, Gastroenterology, and Others), End-Users (Hospitals, Surgical specialty units, Others) – Industry Trends and Forecast to 2031.
Artificial Intelligence and Analytics in Surgery Market Analysis and Size
Factors such as increasing cases of spinal fusion surgeries coupled with a rising geriatric population across the globe, have helped in driving the market growth. Rising healthcare expenditure, developments in innovation for new product launches are expected to lavish the growth of the market.
Data Bridge Market Research analyses that the Artificial intelligence and analytics in surgery market which was USD 177.96 million in 2023, would reach up to USD 1,180.25 million by 2031, and is expected to undergo a CAGR of 26.7% during the forecast period. The “hospitals” in end users segment is expected to dominate the global Artificial intelligence and analytics in surgery market due to presence of skilled professionals and advanced equipment in the hospital setting. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By offering (Hardware, Software), Technology (Machine Learning, Deep Learning, Natural Language Processing, and Others), Application (Cardiovascular surgeries, Neurosurgery, Orthopaedics, Gastroenterology, and Others), End-Users (Hospitals, Surgical specialty units, Others)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K., Belgium, Lithuania, Austria, Ireland, Norway, Poland, Italy, Spain, Russia, Turkey, Netherlands Switzerland, Rest of Europe, Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel and Rest of Middle East and Africa.
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Market Players Covered
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Activ Surgical, Inc. (U.S.), Brainomix Ltd (U.K.), Caresyntax, Inc. (U.S.), DeepOR S.A.S (France), ExplORer Surgical Corp. (U.S.), Holo Surgical Inc. (U.S.), LeanTaaS Inc. (U.S.), Medtronic Plc (Ireland), Proximie (U.K.), Theator Inc. (U.S.), Tianjin JingMing New Tech. Devp. Co., Ltd (China), HANSON MEDITEC CO., LTD (China) and Huaian Meide Medical Instrument Co., Ltd (China)
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Market Opportunities
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Market Definition
Artificial Intelligence (AI) and analytics in surgery refer to the integration of advanced technologies to enhance various aspects of surgical procedures. AI assists in preoperative planning by analyzing medical imaging data, offers real-time guidance during surgery, and aids in postoperative monitoring, contributing to personalized patient care. Analytics leverage data insights for decision-making, optimizing surgical processes, and improving outcomes. This convergence of AI and analytics in surgery aims to increase precision, efficiency, and safety, ultimately revolutionizing the field of medical interventions.
Artificial Intelligence and Analytics in Surgery Market Dynamics
Drivers
- Improved Surgical Outcomes:
AI's contribution to improved surgical outcomes lies in its ability to analyze vast amounts of patient data, including medical images and health records, facilitating personalized treatment plans. Advanced algorithms assist in preoperative simulations, enabling surgeons to visualize and plan procedures with higher precision. Real-time AI guidance during surgery enhances decision-making by providing insights into critical structures and potential complications. Postoperatively, continuous monitoring and analytics help identify early signs of complications, allowing for timely interventions and improved recovery outcomes.
- Advancements in Technology:
Ongoing technological advancements, particularly in AI algorithms and robotics, drive the evolution of surgical systems. Machine learning enables these systems to continuously learn and adapt, enhancing their capability to assist surgeons in complex tasks. The integration of AI with medical imaging technologies allows for more accurate diagnostics and treatment planning. Robotics, powered by AI, enables surgeons to perform intricate procedures with enhanced precision, reducing the risk of errors. These technological strides contribute to the overall efficacy and safety of surgical interventions, attracting increased interest and adoption in the healthcare industry.
Opportunities
- Advancements in Robotic-Assisted Surgery
Future opportunities in robotic-assisted surgery involve the development of more sophisticated robotic platforms with enhanced autonomy, increased flexibility, and improved tactile feedback. AI algorithms will enable these systems to adapt to dynamic surgical environments, potentially performing complex procedures with a higher degree of precision. As these technologies mature, the integration of advanced robotics into a broader spectrum of surgical specialties could become more prevalent, expanding the applications of minimally invasive techniques.
- Integration of Augmented Reality (AR) and Virtual Reality (VR)
The future of surgery holds exciting prospects for AR and VR integration, offering surgeons immersive experiences for surgical planning and training. AR may provide real-time, overlaid information during surgery, assisting with navigation and decision-making. VR simulations will likely become more realistic, enabling surgeons to practice intricate procedures in a risk-free virtual environment. These technologies have the potential to enhance surgical education, refine skills, and improve overall surgical precision by providing a more intuitive and interactive approach to preoperative planning and training.
Restraints/Challenges
- Interoperability Issues
Interoperability challenges arise from the diverse array of healthcare IT systems that may not seamlessly communicate with each other. The integration of AI and analytics solutions into existing infrastructures requires standardized protocols for data exchange and communication. Overcoming these interoperability issues is crucial to achieving a cohesive and interconnected healthcare ecosystem, ensuring that AI applications can effectively collaborate with electronic health records, imaging systems, and other medical technologies.
- Cost of Implementation
The upfront costs associated with acquiring and implementing AI and analytics solutions, along with the ongoing expenses for maintenance and updates, can be a significant barrier for healthcare institutions. Resource constraints may limit the adoption of these technologies, particularly in smaller or underfunded healthcare settings. Striking a balance between cost-effectiveness and the potential long-term benefits is essential, requiring careful financial planning and strategies to make these innovations more accessible to a broader range of healthcare providers.
This Artificial intelligence and analytics in surgery Market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Artificial intelligence and analytics in surgery Market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Artificial Intelligence and Analytics in Surgery Market Scope
The Artificial intelligence and analytics in surgery Market is segmented on the basis of basis of surgery, product and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Offering
- Hardware
- Software
Technology
- Machine Learning
- Deep Learning
- Natural Language Processing
- Others
Application
- Cardiovascular surgeries
- Neurosurgery
- Orthopaedics
- Gastroenterology
- Others
End-User
- Hospitals
- Surgical specialty units
- Others
Artificial Intelligence and Analytics in Surgery Market Regional Analysis/Insights
The Artificial intelligence and analytics in surgery Market is analysed and market size insights and trends are provided by d by country, surgery, product and end users as referenced above.
U.S., Canada, Mexico, Germany, France, U.K., Belgium, Lithuania, Austria, Ireland, Norway, Poland, Italy, Spain, Russia, Turkey, Netherlands Switzerland, Rest of Europe, Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel and Rest of Middle East and Africa
North America dominates the Artificial intelligence and analytics in surgery market due to the growing number of geriatric population along with adoption of innovative medical technology.
Europe is expected to grow at the highest growth rate in the forecast period due to the rising health awareness among the people and growing demand of advanced medical technology.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The Artificial intelligence and analytics in surgery Market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for Artificial intelligence and analytics in surgery Market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the Artificial intelligence and analytics in surgery Market. The data is available for historic period 2010-2020.
Competitive Landscape and Artificial Intelligence and Analytics in Surgery Market Share Analysis
The Artificial intelligence and analytics in surgery Market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to Artificial intelligence and analytics in surgery Market.
Some of the major players operating in the Artificial intelligence and analytics in surgery Market are:
- Activ Surgical, Inc. (U.S.)
- Brainomix Ltd (U.K.)
- Caresyntax, Inc. (U.S.)
- DeepOR S.A.S (France)
- ExplORer Surgical Corp. (U.S.)
- Holo Surgical Inc. (U.S.)
- LeanTaaS Inc. (U.S.)
- Medtronic Plc (Ireland)
- Proximie (U.K.)
- Theator Inc. (U.S.)
- Tianjin JingMing New Tech. Devp. Co., Ltd (China)
- HANSON MEDITEC CO., LTD (China)
- Huaian Meide Medical Instrument Co., Ltd (China)
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